Ethic Inc. Purchases 6,398 Shares of Phillips 66 (NYSE:PSX)

Ethic Inc. lifted its holdings in shares of Phillips 66 (NYSE:PSX - Free Report) by 237.2% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 9,095 shares of the oil and gas company's stock after purchasing an additional 6,398 shares during the period. Ethic Inc.'s holdings in Phillips 66 were worth $1,036,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in PSX. Price T Rowe Associates Inc. MD raised its stake in shares of Phillips 66 by 283.5% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 6,026,649 shares of the oil and gas company's stock worth $686,618,000 after purchasing an additional 4,455,220 shares during the period. Norges Bank bought a new stake in Phillips 66 in the 4th quarter valued at about $497,648,000. Raymond James Financial Inc. bought a new stake in Phillips 66 in the 4th quarter valued at about $168,790,000. Capitolis Liquid Global Markets LLC bought a new stake in Phillips 66 in the 4th quarter valued at about $142,185,000. Finally, Amundi raised its stake in Phillips 66 by 25.7% in the 4th quarter. Amundi now owns 3,682,414 shares of the oil and gas company's stock valued at $428,081,000 after acquiring an additional 753,653 shares during the period. 76.93% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the company. Raymond James lowered their price objective on Phillips 66 from $150.00 to $140.00 and set an "outperform" rating on the stock in a research note on Wednesday, April 9th. The Goldman Sachs Group cut Phillips 66 from a "buy" rating to a "neutral" rating and set a $132.00 price objective on the stock. in a research note on Thursday, March 27th. Wells Fargo & Company lowered their price objective on Phillips 66 from $162.00 to $149.00 and set an "overweight" rating on the stock in a research note on Monday, April 28th. TD Cowen boosted their price objective on Phillips 66 from $114.00 to $120.00 and gave the company a "buy" rating in a research note on Tuesday, May 13th. Finally, Barclays upped their price target on Phillips 66 from $106.00 to $115.00 and gave the company an "equal weight" rating in a research report on Monday, May 12th. Six research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $137.86.

Phillips 66 Stock Performance

Shares of PSX stock traded up $0.92 during trading hours on Friday, reaching $125.69. 3,242,816 shares of the company traded hands, compared to its average volume of 2,961,247. Phillips 66 has a 12-month low of $91.01 and a 12-month high of $150.12. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.21 and a quick ratio of 0.83. The company has a market cap of $51.21 billion, a P/E ratio of 25.44, a P/E/G ratio of 4.84 and a beta of 1.01. The firm has a 50-day moving average price of $111.61 and a 200 day moving average price of $119.23.

Phillips 66 (NYSE:PSX - Get Free Report) last posted its quarterly earnings data on Friday, April 25th. The oil and gas company reported ($0.90) earnings per share for the quarter, missing analysts' consensus estimates of $0.07 by ($0.97). Phillips 66 had a net margin of 1.46% and a return on equity of 8.58%. The company had revenue of $31.92 billion for the quarter, compared to analysts' expectations of $31.93 billion. During the same period in the previous year, the firm earned $1.90 earnings per share. As a group, sell-side analysts predict that Phillips 66 will post 6.8 earnings per share for the current fiscal year.

Phillips 66 Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 2nd. Stockholders of record on Monday, May 19th will be given a dividend of $1.20 per share. This is a boost from Phillips 66's previous quarterly dividend of $1.15. This represents a $4.80 dividend on an annualized basis and a dividend yield of 3.82%. The ex-dividend date is Monday, May 19th. Phillips 66's payout ratio is presently 109.34%.

Phillips 66 Company Profile

Phillips 66 operates as an energy manufacturing and logistics company in the United States, the United Kingdom, Germany, and internationally. It operates through four segments: Midstream, Chemicals, Refining, and Marketing and Specialties (M&S). The Midstream segment transports crude oil and other feedstocks; delivers refined petroleum products to market; provides terminaling and storage services for crude oil and refined petroleum products; transports, stores, fractionates, exports, and markets natural gas liquids; provides other fee-based processing services; and gathers, processes, transports, and markets natural gas.